Uppsala Security and Barun to Provide Joint Legal Services
Singapore, 23 April 2020 — Uppsala Security, the leading provider of Risk Management Tools for Cryptocurrency AML, Regulatory Compliance Analytics, and Cybersecurity, held today an official ceremony where they announced the launch of a joint legal service in cooperation with Barun, one of the major representative law firms of Korea, in order to recover digital assets lost due to hacks, scams or fraud.
When a victim loses cryptocurrencies due to hacking or fraud and submits a case to Uppsala Security, the company will provide relevant evidence for the recovery of those funds such as which exchange was used by the malicious actors or how much money has been funneled. All this will be done by using Uppsala Security’s pioneering cryptocurrency tracking technology. Barun will then proceed with the operation of recovering the stolen cryptocurrency by taking legal steps such as civil and criminal lawsuits based on the evidence reported by Uppsala Security.
If a person reports to the police a case of hacking or fraud related to cryptocurrencies, he or she needs to provide further information and submit the details as evidence. Such requirements of cryptocurrency tracking are not easy to fulfill as an individual, especially considering the fact that by the moment the users manage to track the digital assets it is likely that the money has already been laundered.
However, in the case of the joint legal services launched by Uppsala Security and Barun, the route of the funds can be immediately identified through legally effective evidence. This provides a basis for ultimately recovering the stolen funds by taking prompt measures such as freezing and provisional seizure of the wallet on the exchange.
Barun, one of the major representative law firms of South Korea, has been involved in various legal issues related to new technologies, including blockchain and cryptocurrency, since it first launched the “Fourth Industrial Revolution Response Team” in November 2018. In particular, the “Cryptocurrency Hacking and Fraud Relief Law Service” will be coordinated by Han SuhHee, who currently serves as the first subcommittee chairman of the Korea Bar Association’s Special Committee on IT Blockchain and as an active advisor to related associations and institutions and CHOI YeongNoh, an IT, blockchain and data law expert.
“There have been a series of incidents such as multilevel fraud and ponzi schemes but the problem is that due to the regulatory challenges, the unsolved cases are being returned to individual investors,” said by Han SuhHee, Attorney (Partner) of Barun Law. “To prepare the legal measures in order to promptly respond to this problem, we decided to cooperate with Uppsala Security, a pioneer in providing cybersecurity solutions for cryptocurrencies and digital assets.”
“There are various types of cases currently being received by our team, including multi-level investment, voice phishing fraud and the leakage of private wallets. The affected clients are individuals, small-scale private businesses, companies, and government agencies from various levels. Individuals and small-sized businesses are especially affected by this, as they often do not have the experience or know-how of related technologies and legal responses, making it difficult for them to take legal action by using evidence on their own. However, clients of the service launched today will be able to take immediate legal action in order to recover the lost cryptocurrency funds by receiving professional legal advice from the law firm Barun based on the data proven to be legally effective provided by Uppsala Security.“ said Ku Min-woo, Head of Uppsala Security Korea branch.
About Barun Lau LLC
Barun Law LLC has achieved exponential growth since its establishment in 1998. It is recognized for its strength in litigation and assessed to be one of the major representative law firms of Korea. Based on the firm’s competitiveness in litigation-related service, its corporate lawyers have achieved enormous growth, allowing the firm to provide the best-quality legal services in all practice areas.
About Uppsala Security Pte Ltd
Uppsala Security built the first crowdsourced Threat Intelligence Platform known as the Sentinel Protocol, powered by blockchain technologies and A.I. Supporting the framework is a team of experienced security analysts and researchers committed to helping organizations realize safely interconnected experiences by deploying a suite of advanced Risk Management Solutions satisfying the crypto security needs of organizations and industry compliance standards.
Uppsala Security is headquartered in Singapore and has branch offices in Seoul, South Korea and Tokyo, Japan. Follow Uppsala Security on Telegram, LinkedIn, Twitter, Facebook and Medium.
